Section 7 in Karnataka Agricultural Income-Tax Act, 1957
7. Method of accounting.
- Agricultural income shall be computed for the purpose of sections 5 and 6 in accordance with the method of accounting regularly employed by the assessee:Provided that, if no method of accounting has been regularly employed by the assessee, or if the method employed is such that, in the opinion of the [Assistant Commissioner of Agricultural Income-tax] [Substitued by Act 5 of 1993 w.e.f.9.11.1992], the agricultural income cannot properly be deduced therefrom, then the computation shall be made upon such basis and in such manner as he may determine:Provided further that in the case of coffee crop of an assessee, the agricultural income therefrom may be computed on the basis of valuation on points declared by the Indian Coffee Board in respect of such crop.
